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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of PNM
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Green day on Tuesday for PNM Resources Inc (Holding Co) stock after gaining 0.497%
(Updated on May 07, 2024)

Buy or Hold candidate since Apr 29, 2024 Gain 3.67% PDF

The PNM Resources Inc (Holding Co) stock price gained 0.497% on the last trading day (Tuesday, 7th May 2024), rising from $38.23 to $38.42. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.44% from a day low at $37.95 to a day high of $38.50. The price has risen in 7 of the last 10 days and is up by 5.87% over the past 2 weeks. Volume fell on the last day by -114 thousand shares and in total, 920 thousand shares were bought and sold for approximately $35.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $37.70 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $39.59 sometime during the next 3 months.

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PNM Signals & Forecast

The PNM Resources Inc (Holding Co) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $37.66 and $36.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation

Support, Risk & Stop-loss for PNM Resources Inc (Holding Co) stock

PNM Resources Inc (Holding Co) finds support from accumulated volume at $37.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.545 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.61%.

The PNM Resources Inc (Holding Co) stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $36.88 (-4.01%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (PNM) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect PNM Resources Inc (Holding Co) to open at $38.29, and during the day (based on 14 day Average True Range), to move between $37.69 and $39.15, which gives a possible trading interval of +/-$0.730 (+/-1.90%) up or down from last closing price. If PNM Resources Inc (Holding Co) takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $37.60, some $0.82 (2.13%) from the current price of $38.42, our system finds the risk reward attractive.

Is PNM Resources Inc (Holding Co) stock A Buy?

PNM Resources Inc (Holding Co) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PNM Resources Inc (Holding Co) of Wednesday, May 8, 2024

Fair opening price May 8, 2024 Current price
$38.29 ( 0.343%) $38.42

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PNM

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 38.83 1.08 %
R2 38.63 0.534 %
R1 38.50 0.199 %
Current price: 38.42
Support S1 38.08 -0.88 %
S2 37.95 -1.22 %
S3 37.74 -1.76 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 38.42
Support S1 37.60 -2.13%
S2 36.80 -4.22%
S3 36.51 -4.97%

PNM Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 01, 2024 Apr 25, 2024 May 10, 2024 $0.388 1.01%
2 Dec 05, 2023 Feb 01, 2024 Feb 16, 2024 $0.388 1.03%
3 Sep 19, 2023 Oct 26, 2023 Nov 10, 2023 $0.368 0.87%
4 Aug 01, 2023 Aug 10, 2023 Aug 25, 2023 $0.368 0.84%
5 Feb 28, 2023 Apr 27, 2023 May 12, 2023 $0.368 0.771%

FAQ

What is the symbol for PNM Resources Inc (Holding Co) Stock and on which exchange is it traded?
The symbol for PNM Resources Inc (Holding Co) is PNM and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell PNM Resources Inc (Holding Co) Stock?
PNM Resources Inc (Holding Co) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy PNM Resources Inc (Holding Co) Stock?
PNM Resources Inc (Holding Co) Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy PNM Resources Inc (Holding Co) Stock.

What's the current price of PNM Resources Inc (Holding Co) Stock?
As of the end of day on the May 07, 2024, the price of an PNM Resources Inc (Holding Co) (PNM) share was $38.42.

What is the 52-week high and low for PNM Resources Inc (Holding Co) Stock?
The 52-week high for PNM Resources Inc (Holding Co) Stock is $3.55 and the 52-week low is $0.112.

What is the market capitalization of PNM Resources Inc (Holding Co) Stock?
As of the May 07, 2024, the market capitalization of PNM Resources Inc (Holding Co) is 3.448B.

When is the next earnings date for PNM Resources Inc (Holding Co)?
The upcoming earnings date for PNM Resources Inc (Holding Co) is Aug 02, 2024.
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About PNM Resources Inc (Holding Co)

PNM Resources (Holding Co) PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment generates electricity using coal, natural gas and oil, nuclear fuel, solar, wind, and geothermal energy sources. As of De... PNM Profile

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